Dollar Mixed Ahead Of US Retail Sales

  • Dollar Mixed Ahead Of US Retail Sales

Dollar Mixed Ahead Of US Retail Sales

According the National Retail Federation (NRF), total retail sales in March increased 0.3% seasonally adjusted over February and 5.0% year-over-year.

Online retail sales increased 0.8 percent in March and have risen almost 10 percent compared to a year ago. Sales at nonstore retailers grew 0.8% following February's 0.9% increase. Auto sales rose 2 percent, the most since September; a report last week showed purchases of cars and light trucks rose to a 17.4 million annualized rate in March, the fastest this year.

"This is a healthy spending report despite market volatility, unseasonable weather and uncertain economic policies", NRF Chief Economist Jack Kleinhenz said in a statement. The 0.3% sequential increase from February to March was ahead of the 0.2% gain from January to February, as well as the 4.3% annual jump in February.

Retail spending in the world's largest economy gained 0.6 per cent for the month, rising to US$494.6 billion, overshooting economists' expectations and marking the biggest gain since November.

General merchandise stores were up 6.3 percent year-over-year and up 0.3 percent from February seasonally adjusted.

But sales at building material stores fell 0.6 percent last month and receipts at clothing stores dropped 0.8 percent.

Grocery and beverage stores were up 5.9% year-over-year and up 0.2% from February.

Building materials and garden supply stores were up 3.8 percent year-over-year but down 0.6 percent from February seasonally adjusted.

Electronics and appliance stores were up 1.6% year-over-year and up 0.5% from February seasonally adjusted.

Health and personal care stores were up 0.4 percent year-over-year and up 1.4 percent from February seasonally adjusted.